10-Q/A Filing

SOLENO THERAPEUTICS INC CIK: 1484565 Q1 2016

Filing Information

Form Type	10-Q/A
Accession Number	`0001628280-16-018817`
Period End Date	20160331
Filing Date	20160809
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	capn-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 34 Cash Flow Statement 58

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.02M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.40M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.53M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.02M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.40M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.49M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$187.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$156.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Inventory	`InventoryNet`	$551.00K	USD	Point-in-time
Inventory	`InventoryNet`	$653.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$216.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$167.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.58M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$86.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$121.00K	USD	Point-in-time
Goodwill	`Goodwill`	$718.00K	USD	Point-in-time
Goodwill	`Goodwill`	$718.00K	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$917.00K	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$892.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$76.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$76.00K	USD	Point-in-time
Total assets	`Assets`	$8.20M	USD	Point-in-time
Total assets	`Assets`	$9.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$695.00K	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.32M	USD	Point-in-time
Accrued compensation and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.19M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$200.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$109.00K	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 15,403,111 and 14,017,909 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively.	`CommonStockValue`	$15.00K	USD	Point-in-time
Common stock, $0.001 par value, 100,000,000 shares authorized, 15,403,111 and 14,017,909 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively.	`CommonStockValue`	$14.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$89.46M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$95.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-86.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-89.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.83M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.22M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.20M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.39M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$447.00K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$22.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$18.00K	USD	1 Quarter
Cost of product revenue	`CostOfRevenue`	$461.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$4.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-14.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$878.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.77M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$260.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$538.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.94M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.29M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$2.43M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.25M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.26M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.43M	USD	1 Quarter
Interest expense, net	`InterestExpense`	-	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.00K	USD	1 Quarter
Change in fair value of warrants liabilities (expense)	`FairValueAdjustmentOfWarrants`	$6.17M	USD	1 Quarter
Change in fair value of warrants liabilities (expense)	`FairValueAdjustmentOfWarrants`	$-1.17M	USD	1 Quarter
Cease-use expense	`GainLossOnContractTermination`	-	USD	1 Quarter
Cease-use expense	`GainLossOnContractTermination`	$-94.00K	USD	1 Quarter
Other expense	`OtherNonrecurringExpense`	-	USD	1 Quarter
Other expense	`OtherNonrecurringExpense`	$2.00K	USD	1 Quarter
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	-	USD	1 Quarter
Inducement charge for Series C warrants	`PreferredStockConversionsInducements`	$3.05M	USD	1 Quarter
Interest and other income (expense), net	`OtherNonoperatingIncomeExpense`	$-9.22M	USD	1 Quarter
Interest and other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.19M	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.22	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.67	USD	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.97M	shares	1 Quarter
Weighted-average common shares outstanding used to calculate basic and diluted net loss per common share (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.80M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$15.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$20.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$136.00K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$401.00K	USD	1 Quarter
Change in fair value of common stock warrants	`ChangeInFairValueOfCommonStockWarrants`	$-1.17M	USD	1 Quarter
Change in fair value of common stock warrants	`ChangeInFairValueOfCommonStockWarrants`	$6.17M	USD	1 Quarter
Inducement charge for Series C warrants	`InducedConversionOfConvertibleDebtExpense`	$3.05M	USD	1 Quarter
Inducement charge for Series C warrants	`InducedConversionOfConvertibleDebtExpense`	-	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$19.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$31.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$102.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$97.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$49.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$199.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$627.00K	USD	1 Quarter
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-317.00K	USD	1 Quarter
Accrued compensation and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$115.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$72.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.81M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.98M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00K	USD	1 Quarter
Proceeds from sale of Series A preferred convertible stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$5.07M	USD	1 Quarter
Proceeds from sale of Series A preferred convertible stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	-	USD	1 Quarter
Initial public offering costs paid	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Initial public offering costs paid	`PaymentsOfStockIssuanceCosts`	$530.00K	USD	1 Quarter
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$12.00K	USD	1 Quarter
Repayment of credit line	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Repayment of credit line	`RepaymentsOfLinesOfCredit`	$102.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.38M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.57M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$997.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.53M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.49M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.49M	USD	Point-in-time
Conversion of Series A preferred to common stock	`StockIssued1`	-	USD	1 Quarter
Conversion of Series A preferred to common stock	`StockIssued1`	$1.67M	USD	1 Quarter
Reduction in initial public offering costs payable	`ReductionInInitialPublicOfferingCostsPayable`	-	USD	1 Quarter
Reduction in initial public offering costs payable	`ReductionInInitialPublicOfferingCostsPayable`	$45.00K	USD	1 Quarter
Fixed asset costs included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$11.00K	USD	1 Quarter
Fixed asset costs included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Series B Warrant transaction costs accrued and included in accrued compensation and other current liabilities	`TransactionCostsIncludedinAccruedLiabilities`	-	USD	1 Quarter
Series B Warrant transaction costs accrued and included in accrued compensation and other current liabilities	`TransactionCostsIncludedinAccruedLiabilities`	$131.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.